May 9, 2018 / 11:36 PM / 2 months ago

U.S., RBS reach settlement in principle over mortgage-backed securities

May 9 (Reuters) - The U.S. Justice Department has reached agreement in principle with the Royal Bank of Scotland on settlement of potential civil claims stemming from mortgage-backed securities issued from 2005 to 2008, the company and the U.S. attorney’s office in Massachusetts said on Wednesday. The bank said in a statement that under terms of the proposed settlement, it has agreed to pay a civil penalty of $4.9 billion. The attorney’s office said: “Further details remain to be negotiated, however, before a formal agreement can be reached.” (Reporting by Nate Raymond and Eric Walsh; Editing by Sandra Maler)

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